General Ledger Accounting (FI-GL)
Is fully integrated with the other SAP Modules. It is within the GL that all accounting postings are recorded. These postings are displayed in real-time providing up-to-date visibility of the financial A/Cs.
- Free choice of level: corporate group or company
- Automatic and simultaneous posting of all sub-ledger items in the appropriate general ledger accounts (reconciliation accounts)
- Simultaneous updating of general ledger and cost accounting areas
Real-time evaluation of and reporting on current accounting data, in the form of account displays, financial statements with different financial statement versions and additional analyses.
G/L Account Master Records
Data that is always needed by the GL to determine the account's function, divided into two areas:
- Chart of accounts area
- Company code specific area
>Environment: G/L Account Master Records: The objects in the creation and management of master records are Chart of Accounts List, Chart of accounts and Account group
The sample account and the data transfer rules are optional and provide special functions.
The chart of accounts list contains all of the charts of accounts that you support within a client.
- The chart of accounts contains the account number, the account name and controlling information, used in one or several company codes.
- The sample account and the data transfer rules determine which field values are predefined when creating a G/L account master record and whether these values can be overwritten.
- The account group is a summary of characteristics that control the creation of master records. The G/L account master record in the company code contains company code-specific information which controls the entry of data to this account and the management of the account.
>Chart of Accounts List:
You must assign one chart of accounts to each company code. The COA is shared by Financial Accounting as well as cost/revenue accounting. The items in a COA can be both expense or revenue accounts in Financial Accounting and cost or revenue elements in cost/revenue accounting
>G/L Master Record in the Chart of Accounts: Information is valid for all company codes.
>Search Function: G/L A/C Master Records: (F4) provides an overview of the match codes available:
Match codes for G/L accounts
searches for G/L accounts for
G/L account number in the company code
G/L account name
G/L account number in chart of accounts
>Special Features in P&L Statement Accounts: Before you can include P&L statement A/Cs in the chart of A/Cs, you need to specify the retained earnings account to which profits or losses are transferred.
- Using One Retained Earnings Account
- Using Several Retained Earnings Accounts: (Example):In generating the country-specific financial statements, you would use retained earnings account 1 for the German financial statements and both retained earnings account 1 and 2 for the US financial statements in order to report the profits or losses of the prior year.
>Sample Account and Data Transfer Rules: use a sample account if you work with several company codes and want to set data centrally.
Account Balances and Line Items
Account Balance: the sum of the debit and credit balances of the account.
Line items are document items that were posted to a specific account.
You can display the following line items:
- Open items
- Cleared items
- Noted items
- Parked items
- Items with special G/L transactions (in Accounts Receivable and Accounts Payable)
- Items with customer or vendor items (in Accounts Receivable and Accounts Payable)
You can display the line items for the following account types:
- Customer accounts
- Vendor accounts
- G/L accounts
Enter business transactions in the general ledger and sub-ledgers using the following options:
- Recurring Entries
- Posting with Sample Documents
- cross-company code functions and reversals
Posting Business Transactions in General Ledger Accounting
It can be manually or automatically by the system. Example: you have posted a vendor invoice. This item could be cleared with a credit memo. At the time of clearing, cash discount would have to be posted.
Incorrect document can reverse
Enter the date once system calculates the amounts to be accrued. In each period, start an accrual run, meaning that all accruals are posted for the various business transactions.
It includes internal documents, the chart of accounts, and the account list.
Balance Interest Calculation
G/L accounts which are managed with open item display, accounts receivable and accounts payable
• Reports for financial statement analysis based on hierarchical financial statement versions to perform difference analyses based on actual and plan data at any time (yearly, half-yearly, quarterly, and monthly comparisons).
• Key figure reports example, following financial statement balances, determine the liquidity ratio, or determine financial statement version key figures such as the equity ratio.